According to TIME, a new report from think tank New America reveals that the average cost of full-time daycare for kids under five is now $9,589 a year, which is more than the average $9,410 cost of in-state college tuition. The eye-opening report also uncovered just how few of our country's childcare centers are accredited—a mere 11 percent.

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For a family that earns the median household income, which is around $53,000 a year, they would have to spend about one-fifth of their income on childcare. For a parent earning minimum wage, they would have to spend about two-thirds of their wages—and those aren't the only startling figures.

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New America, which partnered with Care.com to compile the study, surveyed 15,000 households across the country. They found that in Kentucky, Montana, Oregon, and Wisconsin, childcare is more expensive than the median cost of rent, and if you're hiring a nanny, it's even more costly. Families pay an average of $28,353 for a caretaker, which is about half of the median household income.

New America also investigated the quality of daycare centers around the country, and found that very few meet safety standards. In South Dakota, just one percent of childcare establishments are certified, and in Connecticut—the state with the highest amount of quality options—only 46 percent are accredited. All in all, the report indicates that most childcare opportunities are not affordable, high quality, or easily available—and no state offers care opportunities that meet reasonable standards in all three areas.

To improve the situation, New America's researchers recommend a complete childcare overhaul. "The short version," the authors of the study wrote, "is that the Care Index found in the early care and learning system isn't working. For anyone." They're calling for more accessible and more affordable options, as well as universal paid family leave, improved cash assistance programs, and universal pre-K programs.